Neuberger Berman Group LLC, a prominent institutional investor in the financial market, has disclosed its most recent Form 13F filing with the Securities and Exchange Commission on June 3, 2023. The report states that the company has increased its position in Criteo S.A. (NASDAQ:CRTO) by 3.3%, adding an astonishing 178,275 shares during the fourth quarter, bringing their total ownership to 5,509,017 shares. According to industry insiders, Neuberger Berman Group LLC now owns 9.15% of Criteo SA worth $143,548,000 at the end of the most recent quarter.
Criteo SA is a global technology company that focuses on digital performance marketing to enable e-commerce companies to leverage large volumes of granular data for engaging and converting their customers. The firm operates through two primary segments: Marketing Solutions and Retail Media. The Marketing Solutions segment allows commerce companies to address multiple marketing goals by engaging their customers with personalized ads across web, mobile and offline store environments.
The market movement for Criteo SA saw NASDAQ CRTO’s shares rise by $0.38 during trading hours on Friday hitting $32.88 while 47,183 shares were exchanged compared to last year’s average volume of approximately 247,066 shares traded per day.
Criteo SA has a current market cap of $2.08 billion along with a PE ratio of 77.38 and a beta of 0.90 as well as a low-12 month rate of $20.56 and high-12 month rate of $36.76 respectively. Additionally, the firm has a fifty-day moving average price of $31.45 and a two-hundred-day moving average price of $29.91.
Financial experts speculate that Neuberger Berman Group LLC’s decision to increase its shareholdings for Criteo SA will positively impact the company’s current position and status in the financial market. As a result, many investors are keeping a keen eye on Criteo SA as they maintain impressive growth momentum under their new leadership.
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Hedge Funds and Institutional Investors Eye Personalized Retargeting Firm Criteo, Despite Mixed Reports
Criteo, an information services provider known for its personalized retargeting technologies, has recently caught the attention of various big-name hedge funds and institutional investors. According to reports, companies such as Raymond James & Associates, Sei Investments Co., and Northern Trust Corp have purchased new stakes in the firm. Meanwhile, UBS Group AG and State Street Corp have increased their previous holdings in Criteo by investing in additional shares.
These moves were followed by numerous research reports released on the topic of CRTO’s performance. On May 18th alone, StockNews.com published a report that suggested buying stock from Criteo whereas Davison cut their price target on Criteo from $39.00 to $36.00 highlighting a potential risk for investors.
The positive developments were countered thereafter with news of insiders selling off their shares in Criteo; Nathalie Balla sold 37,177 shares on March 6th whereas CFO Sarah Js Glickman also sold some of her stocks during April.
Despite these recent developments affecting stockholders’ confidence differently, it is worth noting that over 88% of the company’s stock is owned by institutional investors who are generally seen to have long-term perspectives. As such, it would appear that the fundamentals underlying Criteo remain solid overall.
